TITLE

Charting the Planning Process

AUTHOR(S)
Morrow, Ed
PUB. DATE
April 1994
SOURCE
Journal of Financial Planning;Apr94, Vol. 7 Issue 2, p56
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
The article comments that personal financial planning is a process. It requires information gathering, classification of attitudes and objectives, analysis of the circumstances and shortcomings, implementation and follow through, monitoring and adjustments. The author says that the processes can be best explained in form of chart. In a chart the sequential aspect of planning can be explained most clearly. The author developed such a chart in 1972 and again revised in 1978. However the chart needs to be revised again. He says that after using the chart a few times, one can know where to make changes. He says that the financial planners are not all alike not do they do practice in same way, hence the chart offered is not a suggestion to adopt but as a starting point to develop one that fits your style. The author does not believe that the planning process is simple or that the process chart should be reduced to excessive simplicity. He says that the planners need to communicate more effectively and need to continue the search for more effective tools and techniques.
ACCESSION #
5558063

 

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